The Hama Jurik Candlestick indicator for Metatrader 4 (MT4) follows the major currency trend with the help of custom-built candlesticks.
The indicator appears in the main MT4 chart as blue/white and gray/white colored candlesticks.
Buy & Sell Trade Example
- Open a buy trade as soon as the first blue/white candlestick appears on the chart.
- Open a first trade as soon as the first gray/white candlestick appears on the chart.
The Hama Jurik Candlestick can be used for both entry and exit signals or mixed together with your own favorite trading strategy for improved performance.
For scalping and day trading purposes, the indicator tends to deliver the best results during the London and U.S. trading sessions.
The indicator works equally well on all assets (Forex, CFD stocks, Indices, Cryptocurrencies, Commodities,..) and shows promising results if used correctly.
Free Download
Download the “Hama Jurik.mq4” indicator for MT4
Indicator Chart (EUR/USD M15)
The example chart below displays the Hama Jurik Candlestick mt4 indicator in action on the trading chart.
Trading Tips:
Utilize your own favorite trade entry, stop loss and take profit method to trade with the Hama Jurik Candlestick Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Candlestick
Repaint? No.
Jurik Candlestick + 4 Time Frame Hull Trend Day Trading MT4 Strategy
This day trading strategy combines the HAMA Jurik Candlestick Indicator and the 4 Time Frame Hull Trend Indicator to identify strong intraday trends.
The HAMA Jurik Candlestick colors the candles for buy and sell signals: blue/white candles indicate buy opportunities, gray/white candles indicate sell opportunities.
The 4 Time Frame Hull Trend confirms the bias: all four HMAs green indicate a bullish trend, all four HMAs purple indicate a bearish trend.
This strategy works best on 5-minute to 1-hour charts and is suitable for day traders seeking higher-probability trend trades.
Buy Entry Rules
- Wait for all four HMAs on the 4 Time Frame Hull Trend Indicator to turn green, indicating a bullish bias.
- Confirm a buy entry with a blue/white candle on the HAMA Jurik Candlestick Indicator.
- Enter a buy trade at the close of the confirming candle.
- Set the stop loss below the most recent swing low or support level.
- Set take profit at a 1:2 reward-to-risk ratio or exit if HMAs change color or HAMA candles turn gray/white.
Sell Entry Rules
- Wait for all four HMAs on the 4 Time Frame Hull Trend Indicator to turn purple, indicating a bearish bias.
- Confirm a sell entry with a gray/white candle on the HAMA Jurik Candlestick Indicator.
- Enter a sell trade at the close of the confirming candle.
- Set the stop loss above the most recent swing high or resistance level.
- Set take profit at a 1:2 reward-to-risk ratio or exit if HMAs change color or HAMA candles turn blue/white.
Advantages
- Combining candlestick signals with multi-timeframe trend analysis provides stronger confirmation for entries.
- Helps traders clearly identify the direction of the market and avoid counter-trend trades.
- Works across multiple currency pairs and intraday timeframes, offering flexibility.
- Multi-timeframe Hull analysis reduces the impact of market noise and short-term fluctuations.
- Non-repainting indicators ensure signals remain consistent for backtesting and real trading.
- Allows traders to combine trend bias with precise candle timing for higher probability trades.
- Can be integrated with other indicators or support/resistance levels to further improve trade accuracy.
Drawbacks
- Entry signals may be delayed while waiting for all four HMAs to align.
- Not suitable for very short-term scalping due to confirmation delays.
Case Study 1
On the EUR/JPY 30-minute chart, all four HMAs turned green, and a blue/white candle appeared on the HAMA Jurik Candlestick Indicator.
A buy trade was entered at 146.25, with a stop loss at 146.00 and a take profit at 146.85.
The trade reached take profit within 3 hours, yielding 60 pips.
Case Study 2
On the AUD/USD 1-hour chart, all four HMAs turned purple, and a white/gray candle appeared on the HAMA Jurik Candlestick Indicator.
A sell trade was entered at 0.6730, with a stop loss at 0.6755 and a take profit at 0.6675.
The trade was exited within 4 hours, capturing 55 pips.
Strategy Tips
- Set alerts on the MT4 platform when all four HMAs align to avoid missing potential trades.
- Consider combining the strategy with pivot points or intraday support/resistance zones to refine entries and exits.
- Use smaller lot sizes when testing the strategy on new pairs to minimize risk.
- Apply trailing stops when the trend is strong to lock in profits as the market moves in your favor.
- Keep a trading log of the pairs and timeframes that generate the most reliable signals for your trading style.
- Avoid trading around major economic news releases that can cause sudden volatility and invalidate signals.
